A Louisiana federal judge ruled Friday that Liberty International Underwriters Inc. must cover $50 million of a $250 million settlement reached between Cameron International Corp. and BP PLC over Cameron’s failed Deepwater Horizon blowout preventer, but that the insurer doesn’t have to also pay for defense costs.
Convicted Galleon Group LLC founder Raj Rajaratnam on Friday kicked off a Second Circuit fight over his $92.8 million civil fine, telling the appeals court that U.S. District Judge Jed Rakoff improperly used the fine to try to impoverish him.
Two Samsung companies are gearing up for two big offerings this year, with the de facto group holding company, Cheil Industries, applying for a $1.4 billion IPO Friday, the same day information technology unit Samsung SDS Co. priced at nearly $1.1 billion, as the group chairman prepares to hand over the reins of his empire.
A split Second Circuit on Friday rejected UBS Securities LLC's bid to revive a $350 million arbitration over Nasdaq OMX Group Inc.'s alleged breach of an agreement for mishandling Facebook Inc.'s initial public offering in May 2012.
Whirlpool Corp.'s victory Thursday in a closely watched moldy-washer lawsuit dealt a blow to claims that consumers paid more for a product believing it did not have a defect, but attorneys say the so-called price premium theory will continue to be a major front in a variety of consumer litigation.
Barclays PLC announced Thursday that it has taken a £500 million ($800.3 million) provision in the third quarter related to government investigations into its foreign exchange trading activities, joining another bank that announced a large set-aside this week.